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Stock Market & Financial Investment News

News Breaks
May 2, 2014
12:08 EDTWLTWalter Energy to sell Blue Creek coal terminal
Walter Energy has reached an agreement in principle with the Alabama State Port Authority to sell both the Blue Creek Terminal located in the Port of Mobile and an additional parcel of more than 60 acres located less than a mile from the Blue Creek Terminal. The total consideration to be paid by the Port Authority for the properties is $25M. In addition, the company has agreed with the Alabama State Port Authority to amend the terms of the Coal Handling Agreement pursuant to which the Port Authority currently handles the company's coal exports through the McDuffie Coal Terminal in Mobile, Alabama. As part of the amendment, the Port Authority has agreed to a long term extension of the existing coal handling agreement and to make certain improvements to the McDuffie terminal to ensure the company has the capability to export the coal that will be produced when the company's Blue Creek Mine is completed. It is anticipated that the transactions will be consummated upon the satisfaction of usual and customary closing conditions.
News For WLT From The Last 14 Days
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October 31, 2014
10:00 EDTWLTOn The Fly: Analyst Downgrade Summary
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08:10 EDTWLTWalter Energy downgraded to Underweight, restructuring necessary, says BB&T
As previously reported, BB&T downgraded Walter Energy to Underweight from Hold. The firm believes Walter will run out of cash in the next 12 months and that the best alternative is to restructure with some cash on the balance sheet and come out a stronger company. BB&T said the met coal price needs to be approximately $170/mt before Walter can break vs. the current $109.50/mt spot price and a restructuring is the only right choice.
06:39 EDTWLTWalter Energy downgraded to Underweight from Hold at BB&T
October 30, 2014
09:14 EDTWLTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Visa (V), up 4%... MasterCard (MA), up 2.5%... Alcatel-Lucent (ALU), up 12.5%... TASER (TASR), up 4%... JDSU (JDSU), up 3.8%... Radian Group (RDN), up 9%... DreamWorks Animation (DWA), up 1.7%... Take-Two (TTWO), up 7.7%. ALSO HIGHER: Grand Canyon (LOPE), up 10.5%, upgraded at Piper Jaffray after the company formed a committee to explore conversion to a nonprofit entity... Walter Energy (WLT), up 6.8% after lowering FY14 capital expenditures view, reporting lower than expected losses... Novavax (NVAX), up 7% after getting fast track designation for H7N9 VLP. DOWN AFTER EARNINGS: Glu Mobile (GLUU), down 16.6%... Alliance Fiber Optic (AFOP), down 18.4%... Pacira (PCRX), down 6.4%. ALSO LOWER: Sturm, Ruger (RGR), down 10% following Q3 results, cutting Q3 dividend. Peer gunmaker Smith & Wesson (SWHC) also down 3.7% after Ruger's report... Western Gas Partners (WES), down 4.4% after its 7.5M common units spot secondary priced at $70.85... ACCO Brands (ACCO), down 1.1%, downgraded at KeyBanc following the company's Q3 results... Fiat Chrysler (FCAU), down 1.1% after reported to be recalling over 300K Ram trucks due to fire concern... Inogen (INGN), down 2.3% after 2.1M share secondary offering of common stock priced at $21.50.
08:25 EDTWLTWalter Energy reports end Q3 liquidity $623.9M
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07:42 EDTWLTWalter Energy sees FY14 met coal production 9.5 MMTs, lowers capex view
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07:40 EDTWLTWalter Energy reports Q3 met coal sales volumes 2.3 MMTs
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07:39 EDTWLTWalter Energy reports Q3 adjusted EPS ($1.58), consensus ($1.63)
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October 28, 2014
10:45 EDTWLTCONSOL rises after acknowledging long-term thermal coal MLP opportunity
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